Analysts bullish on Nykaa's long-term growth despite 59% drop in Q3 profit

Brokerages have ratings ranging from "Overweight" to "Buy", with one brokerage having a "Reduce" call. The highest target price of Rs 2,420 translates in an upside potential of up to 41 per cent

Shares of FSN E-Commerce Ventures, the parent company of beauty e-tailer Nykaa, crashed over 8 per cent and hit a low of Rs 1,696 apiece in Thursday’s intra-day trade on the BSE, as the company's net profit dropped 59 per cent to Rs 28 crore in the December quarter of fiscal year 2021-22 (Q3FY22).

The shares, eventually settled at Rs 1,712 per share, down 7.45 per cent on the BSE, as against a 0.8 per cent rise in the benchmark S&P BSE Sensex.

But this hasn't deterred analysts from staying bullish on Falguni Nayar-owned enterprise. Brokerages have ratings ranging from